The Home Selling Process: What You Need to Know

Selling your home, whether it’s your first time or your fifth, can be a stressful time for any homeowner. But being educated about the home selling process can help alleviate some of the worry from this situation.

Here’s everything you need to know before you sell your home.

1. Timing is Everything

To reduce the impact of selling your home on your life, it’s important to get the timing right. If it’s a busy time in your life, whether you’re starting a new job, have a newborn or are experience any other major event in your life, it might be better to hold off on selling your home. You should always coordinate selling your home with your life plans.

2. Start Thinking of Your House as Your Property

On top of being stressful, selling your home can also be an emotional experience. If you’ve lived in your home for a long time, have made memories there, and have an emotional attachment to it, it can be difficult to let it go. When you start thinking about selling your home, try to start thinking of your house as your property, not your home. This will help you become a bit more detached from the emotional side of things.

3. Be Selective With Your Real Estate Agent

Selling your home is a huge decision, and entering the home selling process is best done with the help of a real estate agent. But you shouldn’t just hand over your home to any real estate agent. It’s important that you do your research and choose a real estate agent that is going to bring value to the process. Ask your friends and family for referrals and testimonials, and ask the real estate agent themselves if they have testimonials they can share with you. The more you know about their past work and experience, the better informed you’ll be to make a decision.

4. Market Value vs. Selling Price

It’s especially important to note in today’s housing market that the market value of your home will not necessarily be the amount that you sell it for. Your home’s market value should be a guide when deciding how much to put it on the market for, but you may sell it for less - or more. This all depends on the timing of your home sale. You should be aware of how many homes like yours are currently on the market, and how quickly they’re selling. This will help you determine an appropriate sale price for your home.

5. Increasing Your Home’s Value

Many of us are aware that renovations and updates to your home can increase its value when it comes time to sell. But it’s important to note that you won’t necessarily get every penny back that you’ve invested. Say you’ve spent $20,000 to upgrade your master bathroom with all of the modern fixtures and amenities. When you come to sell, your home’s value won’t automatically increase by $20,000 as its value depends on a wide range of factors. This shouldn’t stop you from investing in modern changes to make your home more attractive to potential buyers.

At Lifestyle Real Estate in Guelph, our dedicated team has the knowledge and experience to guide you through the home selling process. Contact us to get started!

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